is buying ’s Flipkart.  continues taking to control e-  compete against . company finally make it official. Because giant corporation is acquiring Flipkart.

The ’s largest retailer take control soon. Of the -based e- company for its acquisition , Softbank chief executive officer Masayoshi Son said in an webcast today, as per Bloomberg.

Softbank’s 20% stake in Flipkart valued at about $4 billion.  (Rs27,000 crore). Son said, adding that he had invested $2.5 billion in the company. Son did not any further of the transaction.

is purchasing Flipkart. Last night was the official announcement. I believe the deal was reached the about 2.5 billion that we invested has turned out to be 4 billion.” Son said.

The acquisition may cost around $15 billion, according to a previous estimate by Bloomberg.

was also reportedly in the fray to acquire Flipkart went far to  a “breakup fee” of up to $2 billion to prove its seriousness. A breakup fee penalty has set during the takeover process. This agreement pay if the target backs out of the deal.

, Walmart managed to seal the deal and is now in a place to take the fight to in ’s e- , which is estimated to grow over 13 times to $200 billion by 2026.

A giant leap

The deal marks a significant milestone for Flipkart.

What started in 2007 as an online bookstore operating out of the Bansal duo’s - apartment in . Flipkart is now the -valued -age internet company in the . With around 30,000 . It is also one of the highest-funded private companies in the . Which has a giant Amazon a tough in during the last five ?

An internet worth billions and backed by marquee  Softbank, Tiger Global, DST Global, and Accel Partners, among , Flipkart helped break India’s image as just the ’s back office.

Let the battle

Following this deal, the Indian e-commerce space now become a battlefield for American behemoths: Walmart and Amazon.

The been fiercely competing against each other in the US, including by acquiring smaller players. Flipkart’s acquisition widely considered as an extension of the battle.

“In the US, Walmart is the formidable competitor for Amazon. Walmart has been growing its e-commerce operations a and Amazon has increased its footprint with physical stores,” Kartik Hosanagar, a professor of and at the of ’s Wharton School, told Quartz last week.

“Walmart’s looming investment in Flipkart reflects that. Walmart is fighting Amazon and in through its partnership with JD. I suspect similar will happen in India through a partnership with Flipkart,” he added.